Decision to de-risk portfolio 'justified', says chief

Ascot Underwriting has posted a pre-tax profit of £97.1m and a combined ratio of 79.2% in its 2010 Lloyd's results.

Ascot Underwriting chief executive Andrew Brooks said: “2010 proved to be a very testing trading environment.

"Our decision to de-risk our portfolio in specific territories proved to be correct and I am delighted with our results.”

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